On the morning of January 15, the rate of the first cryptocurrency came close to resistance at the level of $ 40,000, but the bulls could not overcome the pressure of the bears and the BTC rate fell to $ 34,500.
Analysts believe that the rise in the bitcoin rate is associated with the announcement of a new US economic stimulus program for $ 1.9 trillion. The sale of BTC began after the bill faced criticism from US politicians. In addition, bearish pressure could have supported the statement by ECB President Christine Lagarde that bitcoin is an overly speculative instrument and needs regulation.
Interestingly, not only the cryptocurrency market but also the traditional financial markets were under pressure. The S&P 500 and NASDAQ were down 0.72% and 0.73%, respectively. Gold fell 1.07%, while silver fell 3.17%. Oil also lost its price, its price declined by 2.93%.
The last week became quite volatile for bitcoin – on January 11, the rate of the first cryptocurrency dropped to $ 30,000, but within a week it was recovering to $ 40,000. During the correction on the cryptocurrency derivatives exchanges, positions worth $ 2.7 billion were liquidated.
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